Mar 27

Weather Chills New Home Sales to 5-Month Low

Weather Chills New Home Sales to 5-Month Low

Weather Chills New Home Sales to 5-Month Low. Image courtesy of Victor Habbick / FreeDigitalPhotos.net

Weather Chills New Home Sales to 5-Month Low. Image courtesy of Victor Habbick / FreeDigitalPhotos.net

Sales of new single-family homes dropped 3.3 percent to a seasonally adjusted annual rate of 440,000 in February, the lowest level since last September, the U.S. Department of Housing and Urban Development and U.S. Census Bureau report.

“There is no doubt that the persistently bad weather took a toll on sales in February,” says Kevin Kelly, chairman of the National Association of Home Builders. “However, builders continued to increase their inventory of for-sale homes, indicating they still anticipate a relatively strong spring buying season.”

NAHB Chief Economist David Crowe says that the builder trade group is still optimistic that 2014 will be a strong year for housing, despite the recent slowdown over the winter months.

“The first-two-month average of 2014 is exactly in line with where 2013 left off,” Crowe says. “If not for the unusual weather, we would easily be ahead of last year’s pace. We also continue to see household formations and pent-up demand driving sales forward.”

The inventory of new homes increased to 189,000 units in February — a 5.2-month supply at the current sales pace. It’s the highest supply of new homes on the market since December 2010, but inventories still remain tight across the nation.

Regional Breakdown

In the Northeast, new-home sales plunged 32.4 percent in February, posting the largest decline since October 2012. New-home sales also dropped 15.9 percent in the West and by 1.5 percent in the South. The Midwest was the only region to gain, soaring 36.7 percent in February, which experts say results from an increase after an unusually low January figure.

Source: National Association of Home Builders and “New Home Sales Fall to 5-Month Low,” Reuters (March 25, 2014)

 

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.